The invention provides a cartilage progenitor cell culture medium which is composed of DMEM culture medium, F12 culture medium, proline, sodium pyruvate, vitamin C, insulin growth factor, FGF2, transferrin, ROCK inhibitor, p38 inhibitor and GSK-3 alpha / beta inhibitor. The preparation method comprises the following steps: mixing the components, adjusting the pH and osmotic pressure of an obtained mixture, and sterilizing. According to the invention, enough nutrient substances and a stable living environment are provided for culturing cells, so that the cells have excellent self-renewal capability. As no animal-derived component is used, pollution caused by animal-derived components is effectively avoided, and immune response is completely prevented from being induced. The preparation methodof the culture medium has the advantages that steps are simple, raw materials are easily available, and no serum is contained, the undifferentiated and pluripotent state of CPCs can be maintained, and the cartilage progenitor cell culture medium is specially used for culturing and amplifying cartilage progenitor cells. The invention disclsoes a long-lasting, continuous and efficient CPCs culturesystem, so that in vitro stable propagation of functional mice and human cartilage progenitor cells is possible to realize.